Up and Coming Business Trends for 2018

Up and Coming Business Trends for 2018

The world of business is an ever-changing environment. If you are not willing to adapt to its rapidly-changing pace, yours could be left out to obsolescence.

You had probably seen businesses which thrived for a while, only to end up closing or being absorbed by a bigger, more capable business of similar kind. Even in trade, it is the survival of the fittest.

With 2018 having arrived and we are but midway to 2019, the business world had manifested probable changes that may be a dawn to a new age in commerce as we know it.

1.The birth of Augmented Intelligence

Machines may be an efficient worker than any person by a long shot. But when removing out the human element in the equation is not possible, the seamless complement between man and smart capabilities of the machine makes for a more probable option—the so-called augmented intelligence.

Augmented intelligence happens when an A.I. plays a crucial role in boosting a worker’s ability to do work as a working tool. Although the application of this trend is subtle, there is an ongoing pressure among workers to overperform from across different industries.

2. Artificial Intelligence going mainstream

While still regarded as an infant which offsets the fear of real-life machine robots taking our jobs, the artificial intelligence as applied in business is getting more and more mainstream.

Giant tech companies like Google and Microsoft are unsurprisingly at the forefront of artificial intelligence development while other companies like Apache, Berkeley AI, and Amazon following suit.

Although it is not immediately straightforward how A.I. would help an average business in the trade, those who pioneer on its progress are significantly at an advantage than the spectators who are obscured about it.

3.Automation making new history

At the core of every big industry are the machines which do all the supposed hard work seamlessly and with efficiency. But this sort of technological feat would not be possible if not for automation.

Although the idea of letting machines do their work with little to no assistance is nothing new in the business world, automation is not necessarily perfect as it is.

Testament for continued growth and innovation is the fruitful collaborating project between Budweiser and Otto which made the first ever automated delivery truck which had managed to traverse a total of 120 miles from Fort Collins to Colorado Springs on its first kick run.

Building a self-delivering truck, however, did not come without a price. Specifically for this Otto and Budweiser joint project, it took an expensive $30,000 worth of hardware fitted into a truck to make it a fruition.

If anything, this is a major game changer for the trucking industry which apparently are in deficit of needed truck drivers but nevertheless bustles a large portion of America’s freight.

Unlike artificial intelligence which is still set for maturity, the fear for a well-implemented automated capability is not unfounded. Day after day, traditional jobs are being lost in favor of this business-efficient feat.

For instance, food chains like Wendy’s and Pizza Hut are already employing robots in some of their business functions thereby making human employees doing simple jobs rarer than expected.

But that was just speaking of automation alone. With somewhat a connection to Augmented Intelligence, automation is also expected to evolve into becoming a true Artificial Intelligence capable of thinking on its own. This human-like capability, should it happen, is bound to shake the world of business as we know it—ultimately becoming a unique organism of its own.

Yet, when the intellectuals think that they would be safe with their marketing job in spite the hullaballoo in the A.I. world, HubSpot claims otherwise as it listed the many possibilities by which A.I. can take on the marketing roles by itself. Yes, that’s a future about machine throwing you ads and contents based on your perceivable internet behavior.

4.Experience over quality

Many organizations were born and had thrived in the idea of satisfying their loyal customers with quality products. Many companies to this day are swayed by this belief. But as customer interest is shifting towards unique experience over quality products, many organizations are still looking to serve something which clients are going away from.

This is not to say that customers are ridding themselves of interest on newer and better-quality products than they currently. It is merely only a shift to another undertaking which might be more satisfying than the ones they were pampered with— a unique experience.

Aptly called the “Experience Economy,” people nowadays remain interested in new thrills than what they frequently encounter, be it going on a trip, a concert, or a date. But this does not mean that tech companies should already close shop and venture in the entertainment industry instead. No, even “experience” can be sold a different way, like adding a human element in the product.

Take the Nike brand, for example. It may be about sports shoes but Nike is a company which knows how to sell experience by incorporating a story to its advertisement which, in a way, builds a connection to its target market.

5.Extinction of the brick-and-mortar shops

The lucrativeness of the online commerce has not only give rise to a seasoned platform like Amazon in the business, it also is breaking down on the traditional stores which people from the early 21st century backward have known and love.

But the rise of the e-Commerce business is only a part of the problem. With the number of middle class in the United States going on a decline, the rising trend with the experience economy coming at a dawn, and massive debts accumulating in the retail industry as other factors to consider, the traditional brick-and-mortar store is slowly dying.

6.Adaptation of the Blockchain technology

To those who are in the loop about cryptocurrency, blockchain should ring a bell as that revolutionary technology which makes everything about the cryptocurrency trade so reliable and secure, basically free from anomalies common to other systems not reliant on the same technology.

But blockchain is not only exclusively-used for cryptocurrency transactions across people from all parts of the global, it is also applicable to other aspects of business, like in healthcare.

8 Comments

Artificial intelligence will cause boardrooms to rethink their core strategy. Every business have to evaluate how successful the businesses will be, dealing with Artificial Intelligence in the future of work.

As a business owner /manager, it possess a great risk and challenge, especially in today’s fast paced technological era, since the world in business is never constant but everchanging. As technology is advancing at a very rapid rate, as a businessman, there’s no readob for you to remain in a status wuo but to keep pace in order not to left behind. In embracing technology, one must innovate, by anticipating customers needs in better ways, as well as creating a brand that reinforce the image of the company. Everything must come in perfect timing by addressing the general public, utilizing technology thru advertisement, like, the vow of jollibee which was so perfect during valentines. Christmas/ bew year, summer or June weddings are events on its perfect time. But, in reality, technology can’t replace human touch, thus, in business, we need to let our customers feel the positive market experience, thereby, employees must be trained to maintain a state of mental calmness in dealing their customers, regardless of creed, color or race.

As we all agree in order for a business / industry to survive, it must be ready to embrace, to cope and to compete with the changes. It must have enough resources to capitalize and to make the change possible within. Creativity and innovation in making the service a memorable and close to the heart of the customers / clients are very important.
Nowadays, we cannot deny the fact that technology plays an important role in the business industry. Robots, automation and whatever means that replace human are now in this generation. These means aim to deliver faster, to have an efficient customer service and of course, to have a sustainable increasing “bottom line”.
Indeed, level up of change in technology must be embrace in the business but for me, human element must not be set aside. There must be a balance of maximizing the technology and maximizing the human element in the business. There are areas or scope in the business that technology cannot replace the human element / touch.
Sincere understanding, the intangible powerful connection of a human to human cannot be answered by the technology.
Thus, as for me business must be wise and creative enough to balance the advancement of technology and its human resource capabilities.

Evolution of technologies really has a great impact in today’s business. People are always enthralled of what is new in the market. As a Business Owner, I would make sure to keep up with the fast pace growing technology to compete in the market. It will surely be more expensive but staying in a traditional way would lead to a downfall of my business. By adapting the new trends in technology, I can attract more customers because I can give them better quality of service/product. Customer satisfaction is the most important thing in the business. Customers hate waiting! They believe that their time are very important. So since technology helps us in making our life more comfortable we should adapt with the new innovations if we want to excel in business and to satisfy our customers. Competition in business are everywhere. Using the most effective available technology can help me become one of the biggest threat of my competitors and can give me room for future expansion of my business.

With the fast pace technology and people being hooked with it, as a manager or owner of a business I must adapt and accept it as well. I believe that with the comfortability and easiness brought by technology it would be easier for me to communicate my product to the market. I know that people would tend to notice the products when they see that I could offer something new, because in every business one should be creative and updated with what is current and popular to the public. People are dependent on technology, they wanted to make things easier and it is an advantage for my business to be updated with the new technology because I will be able to entice more customers.

If I am an owner of a certain business I would engage as to the evolving fast base entrance of technology. Since people and the economy as well are advancing, it is a certainty that change is constant as well. Knowing that people have different needs and satisfaction, people opt to exercise and maximize their buying capacity and demands in such a way they see fit. People are constantly looking for variety and whats new. And if not properly address other competing companies and businesses may attract your own clients and customers.
Since technology makes our life easier and comfortable, why not use it as an advantage to compete and attract more client to your advantage. Technology could offer customer satisfaction in such a way that out of being comfortable and the ease of access, its the experience of the people that matters, it is always the relationship that you establish and how you made them feel that counts and stays, and I believe that technology could greatly help with this.

Dealing with a particular entity/ organization in responding quick pace innovation is a challenging choice to be executed with an upright decision of determination since it incorporates an evaluation between cost control and cost reduction, in light of the fact that in adding value we must grow revenue by developing new products or services, increase market share (to draw in more client) and increase selling effort. Bottom-line, I have to build the cost to expand the income through putting resources into a state-of-the art facility, high-tech equipment and updated technology for mass produce. Yet, shouldn’t something be said about overhead? Does paying a premium and over time improves them as a worker or enlisting an undergraduate employee with a most minimal pay? For my situation, I liked to enlist a set number of skilled representative to response in a pattern in business trends and innovation than an enormous number of workers with a less cost that may wind up cleaning my inventory as opposed to perceiving an income instead. Consequently, I can’t develop an organization gainfully by simply concentrating on cost decrease. In this way sound rivalry will rise and compelling our organization to response in patterns in business trends for the advantage as well of each customer and consumer.

If I were a business owner, I would adapt to what technology available in the market to be able to cope up with the trends and provide my customers a quality product and the experience they wanted. Like most of the business nowadays, they are most likely to lose or shut down than gaining a profit out of it. One of the reason is that they cannot provide the quality or expectations of a customer. They would be left behind by other business who use advance technologies to better their services and provide customer needs.
I would use most of the technology available that helps my business to gain an advantage to my competitors so that it would be smooth to run my business. By using technologies for my business, it shouldn’t mean that I would cut the numbers of my employees in my business. Manpower is also a need for the business since they have the initiative to do what is needed to perform in the workplace.